[Click eStock] "Hugel, US Toxin Sales Starting from Q2"

LS Securities analyzed on the 15th that Hugel's operating profit in the first quarter of this year is expected to have increased significantly.

Jo Eunhae, a researcher at LS Securities, explained, "It is estimated that sales reached 90.3 billion KRW and operating profit 40.1 billion KRW in the first quarter," adding, "This represents an increase of 22% and 68%, respectively, compared to the same period last year."

She continued, "Toxin exports are expected to rapidly increase from 167.9 billion KRW this year to 225.2 billion KRW next year," and "US sales are projected to grow from 30 billion KRW this year to 66 billion KRW next year."

She emphasized, "This year marks the first year of full-scale entry into the US, the world's number one toxin market," and "The US toxin business is currently in the stage of formal orders following a soft launch last month." Additionally, she noted, "We are continuing local academic activities," and expressed expectations that "additional shipments to the US will be made in the second quarter of this year."

Researcher Jo stated, "The third plant, scheduled to operate in the second quarter of this year, will start operating at a time when exports to Europe and China are growing and US sales are beginning," and added, "Meaningful sales level-ups will be possible for the coming years."